(a) A dissolved limited liability company may dispose of the known claims against it by following the procedure described in this Section.
     (b) A dissolved limited liability company shall notify its known claimants in writing of the dissolution. The notice must:

Terms Used In Illinois Compiled Statutes 805 ILCS 180/25-45

  • State: when applied to different parts of the United States, may be construed to include the District of Columbia and the several territories, and the words "United States" may be construed to include the said district and territories. See Illinois Compiled Statutes 5 ILCS 70/1.14

        (1) specify the information required to be included
    
in a claim;
        (2) provide a mailing address where the claim is to
    
be sent;
        (3) state the deadline for receipt of the claim,
    
which may not be less than 120 days after the date the written notice is received by the claimant; and
        (4) state that the claim will be barred if not
    
received by the deadline.
    (c) A claim against a dissolved limited liability company is barred if the requirements of subsection (b) of this Section are met, and:
        (1) the claim is not received by the specified
    
deadline; or
        (2) in the case of a claim that is timely received
    
but rejected by the dissolved company, the claimant does not commence a proceeding to enforce the claim within 90 days after the receipt of the notice of the rejection.
    (d) For purposes of this Section, the term “claim” does not include a contingent liability or a claim based on an event occurring after the effective date of dissolution.
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